ACV Auctions Inc. (NASDAQ:ACVA) Receives Consensus Rating of “Moderate Buy” from Analysts

ACV Auctions Inc. (NASDAQ:ACVA) has received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $19.6667.

ACVA has been the topic of a number of analyst reports. Needham & Company LLC dropped their target price on ACV Auctions from $25.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. JMP Securities dropped their target price on ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 12th. Citigroup dropped their target price on ACV Auctions from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. The Goldman Sachs Group dropped their target price on ACV Auctions from $26.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Finally, Bank of America lowered their price objective on ACV Auctions from $20.00 to $16.50 and set a “buy” rating for the company in a report on Tuesday, August 12th.

Insider Activity

In related news, insider Michael Waterman sold 34,339 shares of the business’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $16.05, for a total value of $551,140.95. Following the completion of the sale, the insider directly owned 379,957 shares of the company’s stock, valued at $6,098,309.85. The trade was a 8.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Eric Anderson sold 15,000 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total value of $225,600.00. Following the completion of the sale, the insider directly owned 340,799 shares of the company’s stock, valued at approximately $5,125,616.96. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Institutional Trading of ACV Auctions

Several hedge funds and other institutional investors have recently bought and sold shares of ACVA. Versant Capital Management Inc increased its holdings in ACV Auctions by 464.4% in the first quarter. Versant Capital Management Inc now owns 2,201 shares of the company’s stock valued at $31,000 after buying an additional 1,811 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in ACV Auctions in the first quarter valued at approximately $35,000. CWM LLC boosted its stake in ACV Auctions by 77.4% in the second quarter. CWM LLC now owns 4,642 shares of the company’s stock valued at $75,000 after acquiring an additional 2,026 shares during the period. GAMMA Investing LLC boosted its stake in ACV Auctions by 3,005.8% in the first quarter. GAMMA Investing LLC now owns 5,932 shares of the company’s stock valued at $84,000 after acquiring an additional 5,741 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in ACV Auctions in the second quarter valued at approximately $87,000. 88.55% of the stock is owned by institutional investors.

ACV Auctions Stock Up 3.6%

Shares of NASDAQ ACVA opened at $11.65 on Friday. ACV Auctions has a 1 year low of $10.26 and a 1 year high of $23.46. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -23.78 and a beta of 1.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. The stock’s 50-day simple moving average is $13.88 and its 200-day simple moving average is $14.96.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company’s marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green’s seller assurance service for against claims related to defects in the vehicle.